The U.S. National Association of Homebuilders Housing Market Index jumped to 46 on Monday, its highest level since May 2006, just before the peak in house prices. In Britain, especially in south-east Britain, house prices remain inordinately high in terms of wages, rents and purchasing power. In the United States house prices are subsidized by […]

As discussed in the last two weeks, the next four years are likely to be unpleasant ones. There are already several crises heading towards us, and in the fiscal, monetary, regulatory and general economic areas the Obama administration’s policy is likely to be counterproductive. In these circumstances, there is only one sound course of action […]

President Obama’s victory clarifies the political and economic landscape. Unfettered in his second term, he will now be able to pursue the economic policies he truly favors. To see their result, we can look at a country with an overlarge government, low domestic savings, endless “stimulus” spending financed by its development bank, relatively high inflation, […]

There’s a clear choice in Tuesday’s presidential election, and this column has in one way or another indicated its preference. However this close to the election, it is increasingly apparent that, given a realistic assessment of the policies likely to be pursued by either candidate, the years 2013-17 will be very unpleasant indeed. Entirely contrary […]